Turks And Caicos's Finances Stronger

The Government of the Turks and Caicos Islands has said that its financial position is growing stronger, with improving tax collections on the back of tax compliance enforcement actions.

The Government said import duty and stamp duty collections increased by 12 percent and 45 percent, respectively, over budget estimates for the fourth quarter. Hotel & Restaurant Tax receipts were also strong, reflecting health in the territory's tourism sector.

The overall total surplus for the Turks and Caicos Islands for the year ended March 31, 2016, was USD68.6m.

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